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tv   Varney Company  FOX Business  June 30, 2014 11:00am-1:01pm EDT

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genius. >> top 10 list or husband was fifth or sixth on the list. i wonder what that is like at home. maria: ladies, thank you. stuart varney is up next. time for "varney & company." charles payne in for stuart. have a great show. charles: thank you, we will. they news out of the supreme court, ruling in favor of hobby lobby. businesses do have freedom of religion and canno cap be forced provide birth control of it goes against their religious beliefs and you can believe we are all over it. and president obama digging in his feel saying he will continue to go around congress to get things done. i am calling him a lame duck. genuine fury over facebook altering newsfeeds to study your emotions. and take a look at shares rally and fda approval, lot if you bought the stock after i recommended it.
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buckle in, "varney & company" is about to begin. let's get right to it, the supreme court ruling on hobby lobby. the "wall street journal," former reagan economic advisor r is here, and we have judge andrew napolitano with us as well. talk about the legal aspects of this, what does it all mean? hobby lobby. >> the significance of hobby lobby is without getting into the constitutionality of freedom of religion, the court found a federal statute enacted by the congress, the religious freedom act, it basically said in order for the congress to interfere with the religious views of someone, a very high standard for which they call the
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strict scrutiny interest by the least restrictive alternative in congress didn't do that here, what does that mean? if you are a sole proprietor or a shareholder of an s corporation or a shareholder in a nonprofit, your religious views cannot be trumped by the government instruction that you provide contraceptive services for your employees. it also means as justice kennedy pointed out, the government can pay for those services. that is not to deny women the services, this is to say the government cannot force their employers in those corporations. >> judge, it was designed specifically to protect minorities rights? >> absolutely. the decision actually has some very flowery language is about the obligation of the congress
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to protect religious rights from interference by the congress, and it did so when it enacted it which was not interfered with by obamacare. let me say it is very stiff significant the chief justice who wrote the decision upholding obamacare is with the majority here. the business as when i signed off on obamacare i did not sign up on this part of it. charles: let's bring in art laffer because i want to see what he says about this. it should not substantially burden a person's exercise of religion. one of the big things is going beyond a religious aspect of this is the notion that businesses, corporations have right, the whole debate on whether or not they are people or not is a major blow to those on the left who really want to box in corporations as entities with no rights, therefore they can be rated or treated differently.
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>> what really gets me, charles, if i can is it seems to me to be a pattern that is obama is overreached for a long time, the court is setting him back. the illinois case of the health care worker the union could not collect dues for nonmember health workers working at home. that is another blow to this administration. they overreached for way too long and frankly the supreme court is pulling them back. the thing i was a price was just his numbers decision to allow the affordable care act, but he did it. charles: we have had a little bit of this discussion on friday, i am not sure if this is a form of making amends, but it feels like to art laffer's point, since the supreme court has come down pretty hard on what a lot of people are viewing as an imperialistic presidency. >> 92 nothing against the
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federal and state police to look at your cell phone without a warrant, 92 nothing against the president making his during recess appointments, 5-4 thank you substantially overreached with respect to religious liberty. look, the left really wanted this court to say corporations don't have religious freedom. >> does the corporate form really matter? can the government compel a jewish deli not to be kosher? that is really what we're talking about here. >> it is about time have religious freedom reinforced by the court. it would be nice if it was unanimous, it was not unanimous. >> it should have been unanimous. >> the decision in illinois on the health care workers is really a huge blow to the unions and the obama position as well. i think that is much bigger than the hobby lobby stuff to be honest with you.
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charles: it is huge, another blow against elective bargaining unions. >> it is. the government's position was really absurd. this lady was providing health care for her son who is permanently disabled and she was being compensated by medicare in order to do it in the government said you are an employee, an employee of illinois, you join a labor union, you pay the dues. she said this is insane, i'm staying in the house taking care of my kids in the fed is paying the bills. >> they have to do it because he union cannot compel people to pay fees, than other workers have a choice that union membership goes down. charles: you are pretty upset this was not 9-0. what about those is a this is discrimination against women? this opens the door up to all forms of discrimination. that is what we heard coming into this case. >> that is absurd.
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this has nothing to do with public health or gender equality. this has compelling private individuals to do something against their religious beliefs. it should have been 9-0 decision on any constitution or under as the judge pointed out. nothing to do with the war on women although that is what the democrats will say. charles: where do we go from here, judge? >> in the hobby lobby case the government can decide to pay for itself the contraceptive services the employers will no longer have to provide. i wouldn't be surprised if the new secretary of aj just makes that argument this afternoon to take some political sting out of the rebuke of the president, but it is back in the government's forte. they can't make the private s corporation, sole proprietor and nonprofit. charles: that is about 90% of business. >> let's see what taxpayers will say about that. it's ever going to use text they might pay for these services.
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>> now it is time for the supreme court to say this is the end of the session, time for the voters to make their decisions done in november, and there is a huge, huge movement going here that i think is irresistible. charles: could not ask for three better people on the topic. let's check the big board, the stock down to of the past three weeks and we are in a little bit of pressure despite the good economic data. s&p 500 also down the last couple of weeks two out of three weeks under some pressure. some buyers shifted into gold, this study today for a 1317. oil below 106, not sure if it would ever get below 100 again. the 10-year, below 10.6%. everybody is curious why that still continues to happen. take a look at mankind. the inhaled insulin therapy. we will talk that company's
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president 30 minutes from now. and take a look at go pro. up another 9%, a strong debut last wee weekend strong this we. we found out how compensation for victims of the ignition switch case case is going to go. how is the stock reacting? >> the stock is flat. that is certainly very interesting, ken feinberg running the whole fund for the victims and the people involved, ken feinberg known for sadly high-profileó$; catastrophes sh as september 11, funds for the payout for the victims now saying in no position to see how much gm will spend on the program for the people who have been injured and killed, certainly seems they will put together something for the ones already paid out or predetermined, he might actually ripped fed up and start over to a certain extent, so they will be determining some amounts. very much wait and see.
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the stock not moving today, charles, it is flat. the big picture in the year to date numbers for example gm slightly lower today, lower year to date, ford for examples plays a higher today and up 12%, so i think this liability in what is going forward for gm is an overhang on the company, for sure. charles: a lot of discussion tonight. ken feinberg will be with neil at 8:00 p.m. eastern, you cannot miss that comment will be fantastic. president obama digging in his heels as he says he will continue to work around congress to get things done. take a listen. president obama: this keeps the system rigged for those at the top and those for the middle class. as long as they keep on doing this, i will keep taking actions on my own. stuart: i'm saying president obama officially became a lame duck on friday and over the weekend and these executive actions are nothing more than negative public opinion and making things worse,
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not better. >> he said american people i am willing to promise you i will abuse my authority power. he said i will not do my job, i will not go to congress and i will not negotiate, when all else fails, blame the republicans did charles: if i can get the public behind me and you grab pitchforks and torches, help me out because you have to redo this whole thing. >> the problem he has of course is the court. we saw in hobby lobby, you cannot abridge religious freedom. the supreme court smacked down the epa, you cannot go outside the black and white lines they have set down, so he can say all he wants, he can try subdivision in the run-up to november, this is all political, but the reality is thank goodness there is a check on this guy and thank goodness for our court. charles: he may succeed on a political stride.
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a lot of people said income inequality could be very dangerous over the weekend, city cannot even sleep at night because he is thinking of income inequality and the things that will happen because of it. this whole thing about the system being inherently unfair, these businesses fitting all the favors and all the court rulings, could that work politically? >> i don't think the american people are envious people. i think all of the small business owners and those people in the fortune 500 companies want to move up, they don't envy what somebody else making more than them so you should not have that, i want the government to take from them and give to me. charles: forget global warming, a new study shows 2 million square kilometers of sea ice cover in the antarctic. that is a record amount, by the way.
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after average for gasoline $3.68, yes, it is the highest beginning of summer prices 2008 comments check out this amazing video of a building demolition out of the czech republic. a crowd is gathering to watch and something goes wrong and an explosion throws a brick to the crowd, almost as a spectator in the head. pretty amazing. next up, life after professional sports. an ex-football player turned on newer will be here to show off his militants.
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charles: check the big board struggling a little bit this plate really strong home sales numbers. gold off $2.80. the price of oil, 105.25.
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aereo, website that beamed broadcast your computer, spending services over the weekend after they were ruled to violate copyright laws by illegally rebroadcasting network television for a fee. aereo is calling it a temporary suspension giving all of the users a refund for the last month of service. a safety for the tennessee titans, now he is also running off the field as an entrepreneur. how did it come about? >> having three children with my wife, it was a little horrific in the bathroom. charles: we always think of ideas, but what made you move on this thing?
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>> being a football player, we tend to show off our talents on sunday and throughout the week but i wanted to show people we can be more than just jocks. we can step out. i wants to let the chips fall where they may and go with an idea. charles: how does it work? >> you take it out of the bag and unfolded, put it on top of the sink and put your appliances i heat resistant tray. you can still use the water, a drainage hold down the middle and gives you extra counter space. now you get it back. >> i live in new york, i have a tiny little sink. not just when yo you're on the road. you have these tiny apartments. charles: the process he went through, you had an idea, you moved on it and a lot of people watching, this inspires them. what's next?
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you do a prototype, how do you get it to market? >> that is a stressful thing as far as me being a football player. everything goes at our pace. now you have the patents and trademarks, now you're working with their time. now we are kind of going through the other, we launched this thing. we are just kind of sitting on it allowing people to check it out. style pro 31.com. charles: i want to change directions a little bit, johnny mandel. getting a lot of heat showing off his money saying he will not change for anybody. the guy has been a star for a long time. what would you say to him? >> the biggest thing is how can you help us win? as far as all of the off the
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field mess, a lot of it comes from his family background, what he did in college, you can't play that on him because this is no longer college, this is the nfl, this is about what can you do for us. not later, but now. he's going to have to produce. charles: that will throttle it back a little bit, right? i know he is good, pumps love, but it has a point where the return start start to diminish a little bit. >> i think just being in this league everybody is a man. everybody has thrown life, their own family and things they are doing off the field. i cannot tell him you have to chill out. the coach can tell him whatever they want, but i'm not assigning his check as long as he is not interfering with our w, it doesn't matter. and lest he is getting in trouble doing the things he is not supposed to do. one thing i have been taught in this league for 19 years now,
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you have to protect by any means necessary. if your disruptive or embarrassing the city and the team, you have to go. we will be really good. they laugh at me or whatever. charles: trying to look serious like i'm take you seriously. >> you keep laughing. we will be good though. charles: and we have chris >> that boy is fast. charles: congratulations. really good to see you are thinking, preparing for life and a lot of people need to know they can go out. appreciate it, good luck. it has been called the most dangerous scandal ever. so why is the irs targeting scandal getting virtually no attention from the main street media? you will be shocked, but we have the numbers for you. >> is deserved to be difficult for both sides.
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we have a problem with you and you have a problem with maintaining your credibility. >> what criminal statutes have it evaluated by two mark >> i have not looked at any. >> how do you tell our citizens there is no criminal wrongdoing if you don't even know what statutes to look at?
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>> in washington, d.c., auditing and harassing tea party groups around the country is one thing. going after sitting senator, that is stupid. auditing a guy for political reasons, there's no reason to audit and eventually the staff told her you can't do this but we do know she behave that way other times and historically the irs has done this. charles: is just part of what americans for tax reforms grover norquist said on friday. here is your take on what grover had to say. paula said "harassment the parties just wrong and going after a sitting senator in washington has no business going after anybody." adding "senator grassley has been a thorn in the side of the irs and other agencies. if the democrats can target him, no ordinary citizen has a chance." thank you one and all. keep them coming.
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keep them short, but we love to hear from you. keep those coming. despite the outrage over the irs scandal, the mainstream media pretty much ignored this story. the big three networks didn't cover it at all for the first four weeks after thnenews broke of lois lerner e-mails being lost. rich edson joins us now. i had no idea, i just kind of thought everybody was covering this thing. >> no, abc, nbc, cbs, they did not touch the story for seven days. it took a congressional hearing where paul ryan called the commissioner of the irs a liar to get them to notice and they dropped it the next morning. there's got to maybe 20 minutes of coverage in the last two and a half weeks. compare that to 150 minutes in the first few days of the donald sterling case. you can see with news media priorities are. charles: would you say the outburst when they covered it
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was to say the g.o.p. has a lynch mentality or that we have been missing authentic news here? >> they would have stayed with this story. it has been about a year since network dropped the coverage of this, it was after the report came out in june of 2013, be on the lookout. the big three broadcast turned off the story covering the e-mail saying a tiny bit in the last two and half weeks, if they cared, they would be investigating as if it was watergate. the "abc news" political director for years said this would be a national obsession, turning over every stone, but a couple minutes of sound and then ignoring it the very next day.
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>> just to play devil's advocate, isn't this a free competitive market? these guys decide not to cover the irs and we have links the white house or more revelations coming out, aren't they the ones who will have to suffer because they will go to the editorial or fox news? >> some people already have, but the public really is a big disservice over this. this is still the immediate have reached the broadest number of people. one of the big three evening newscast. they still have a huge agenda setting role. the public gets harmed. charles: there does seem to be some obligation as a news organization to present the news, the most important news of the day. we appreciate you staying on top of this, keep us up to date, thank you a lot.
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one of the most iconic r&b groups of the 80s and 90s are making a comeback. live on the set, right after the break. when folks think about what they get from alaska, they think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs.
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charles: president obama nominating former procter & gamble ceo to head the va. do you think this would be a big step toward cleaning up the mess over there? >> i don't know what he did to deserve this job, charles. the problem is the structure. whenever you have a government agency with no competition, lack oversight, you'll get the problems at the va. the problem here is health care industry people die when you don't have the kind of professionalism of the free market. charles: what about the notion of a private sector guy? >> i don't think that is what they're going to say. the va has to be subjective.
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charles: bottom line is existence of the loan and the structure it is in. >> putting the new guy at the top is a nice gesture, but it won't mean anything. charles: buckingham research starting research of priceline with a neutral rating up $4. another late morning winner for you. monster beverages up almost 2%. right now we have a very special guest with us. the new summer tour starting this week, your first stop is all six numbers will be there. >> yes, we will be there. opening up on thursday, we went to boston, our hometown and to the barclays last night, all of the shows for capacity sold out.
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it was one big party, man. charles: one big party. you guys periodically got back and have come together, it really feels like groups from your era, that period, this is the time to strike when your fans have disposable income, they miss you, if this is a way to make money in the music business. >> we want to the music business with music. we don't spend a lot of time recording new material as we should, we spend all the time on the road. if we don't do the six of us, devotes to three of them. it means more now because there is a decline in record sales.
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people want to still get out and have a good time. charles: you like the creative juices to flow, but you also have to make money. >> we like to have a good record deal. slow down until we get the right deal. the good thing is they make a great record, this record is age-appropriate. it will be dropping soon. it balances the box office. i think it is important we keep our core audience but even more important we expand our audience because at this time plenty seats. the more you engage more people,
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it's just makes the room feel different. they go wow, they have touched so many people with their music. charles: you already talked about johnny gill, others have solo success, a lot of egos in the room, seems a lot of times get into a room. >> charles, we have a great about us where people voice their opinion but the one good thing about us is we are brothers, nobody put us together, we put ourselves together. and a great leader and our choreographer, our manager, our godfather. when we have those brotherly moments we realize this has nothing to do with the dollars, let's get rid of it and focus.
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you have to get things off your chest. we put the eagles sign. charles: really quick, new york, new jersey? >> i think you're going to add some dates but it will be memphis wednesday, in the atl thursday, and we have friday off, a family picnic. charles: don't tell me, i will show up. >> you can visit us, we're on twitter, talk to us, engage with us and get to know was a this is your first time seeing me, it won't be your last. i will be here every week, i have been hired. good to see you, baby. charles: congratulations. take a look at the shares of mankind. this has been one of my favorite ideas because i love the management, but the fda improving new michelin. it will be a real game plan.
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millions of people suffering from diabetes in this country, and we will talk to one of the top guys at the company up next. thank you daddy for defending our country. thank you for your sacrifice and thank you for your bravery. thank you colonel. thank you daddy. military families are uniquely thankful for many things, the legacy of usaa auto insurance can be one of them. if you're a current or former military member or their family, get an auto insurance quote and see why 92% of our members plan to stay for life.
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>> "transformers: age of
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extinction" rolled bringing in $100 million north america during the opening weekend. the biggest movie debut this year according to studio estimates. followed by 22 jump straight, how to train your dragon, think like a man too and maleficent rounding out the top five. crashes by bad emissions which is. pre-bankruptcy claims also eligible. not a factor if they contributed to the crash. shares of general motors up. mankind just approved the inhaled insulin. one of the top guys next.
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charles: a new survey finds even more dependent on our cell phones than we thought. lauren, you have all the details this one. >> bank of america out with a survey, 47% of people cannot go one day without their cell phones and 91% of people say cell phones are very important on par with cars and deodorant. i say the opposite, take my cell phone, take it as long as you want, take all of them, in fact. it would be a nice retreat. i feel you cannot go without your cell phone, charles. charles: i am somewhat of an
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addict. >> you were on it before you came to me. charles: go pro, let's go to nicole. nicole: have you been to the ski slopes lately? everybody has these on their helmets. shaun white, surfers using them, everyone is using go pro. an active, wearable camcorder. the number one selling of this sort last year. the ipo $24 last week, holding onto really stellar gains. a $24 ipo has been received beautifully, however now everybody is investing in go pro, better deliver some great numbers as well because there are some high expectations that everybody bought into. charles: the stock better live up to the hype.
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also take a look at mankind, they got at the approval of the insulin drug. first thing i want to do is say congratulations. i followed your saga for 10 years, all of the attempts to get the approval, the scarring of the lungs going back over and over again. where does this go from here? initial reaction was a pullback. i don't think people understood the magnitude of it. >> i agree with that. certainly we see a tremendous opportunity for people with diabetes, and we're certainly eager to continue our conversations with the first of 2015.
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charles: it sounds like an amazing enormous market. this seems like the sky would be the limit. just talked about partnering with the larger drug companies. your challenge distributions now? >> we certainly know the technology, but we do not have a commercial organization in pla place, but it would take a number of billions to establish on the basis. lebron the capacities of a big organization because as you say, there are billions of people or millions of people suffering from diabetes on a global basis and we want to reach the most healthy fish and way be i want to ask about industry like yours, most have come up dry, they don't ever get approval.
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i guess it helps to have somebody like a self-made pers person, how does it feel to go to work where it is hit and miss with one project that may or may not work and all of your efforts they go down the drain. how does that feel on a day-to-day basis? >> i think we have all done our homework before we joined the company. on behalf of myself and all of our employees we feel dedicated to what it can do for patients and we do expect this will be a multibillion dollars opportunity. and yes, we took the chance and it paid off. charles: you earned it the hard way and millions of people will benefit.
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hunters of thousands of facebook users outraged to learn they were unwittingl unknowingly an g participant in a study. dr. keith ablow will weigh in on this and i think we'll have a pretty interesting take right after the break. are the largest targets in the world, for every hacker, crook and nuisance in the world. but systems policed by hp's cyber security team are constantly monitored for threats. outside and in. that's why hp reports and helps neutralize more intrusions than anyone... in the world. if hp security solutions can help keep the world's largest organizations safe, they can keep yours safe, too.
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♪ charles: check out the shares of facebook virtually unchanged this morning. the company conducted a secret experiment on nearly 700,000 u.s. users in 2012. they wanted to see they could change their emotions. data scientists omit certain posts on the newsfeed that we associate it with or negative emotions. let's bring in dr. keith ablow. we know just how much he loves social media. >> there you go. charles: sounds knocks they would take it upon themselves as this willy-nilly play with people's emotions just to see what happens. >> they consider this part of their scientific initiative, but what they did was they took their newsfeeds and they altered
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it to experiment on people so they brought people into groups. one got newsfeeds with much more positive content, others got newsfeeds with negative content and is the of the people posting are more positive or negative depending on how they feed them information. guess what, yes, they were. i think this raises a lot of troubling questions because now we know we can look behind the curtain at "the wizard of oz" and so you know what, it's only a hop skip and a jump from there to facebook manipulating you in many ways emotionally and psychologically to sell things, to make you feel one way about a candidate or another because i don't see why they wouldn't sell that to a candidate running for office, make them feel good about the candidate. charles: there had to be a reason they did this. >> you don't see the p.r. executives and people making commercials don't try to change how you feel, charles?
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doctor, you are not compelled to use facebook. what is the problem here? can't they just go somewhere else? >> they call it a newsfeed and they haven't said to you number one we are experimenting on you, we will break into groups, doing cause i controlled study here. measure people were to sell aspects of the nightly news or fox news, which would never happen, and say we will sell it to people, reported things about coca-cola that are extreme a favorable. what is the difference? where just studying if people feel better about their lives when you say good things about getting energy from these soft drinks. bottom line is this is using people when they don't know which to determine whether you can change the way they think and feel. this is very big brother, tell people once and for all your
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giving yourselves yourself to these people. they will use you, you are getting nothing, zero, zilch in return. charles: how alarmed should we be that it works? how frightened should we be that these people can absolutely move us in a direction they us want to move? >> we knew people complained, i feel down as people post positive content about themselves. we know you can become less empathetic. here is the ultimate reality, i have been saying it, you have been listening to it, charles, and the group. this they very dangerous entity because once you are registered, they have you. the bottom line is he may not have yourself anymore. that is the message here.
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this is a drug, when you give yourself to facebook, you go on facebook and mainline it in your artery or your vein. you lose yourself. charles: you voluntarily enter the matrix on your own, you lose it all. you have been warning us almost every week we get a story like this. thank you for taking a timeout, we really appreciate it. lawmakers want to offer a million dollars reward for anybody who can recover lois lerner's lost e-mails. at noon we have somebody who says he can recover them, plus google reportedly close to selling human life robots commercially. get your order ready. our show starts in two minutes.
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when folks think about what they get from alaska, they think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america.
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if you've had chickenpox,. what do you think the odds are of getting shingles? those odds are high enough. charles: the supreme court ruling a blow to obamacare. if lois lerner's e-mails are indeed lost forever, does that mean that they were delivered
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late destroyed? our tech knowledge he expert weighs in. crystal wright is here. ali baba is going public. we have someone that will take a very bearish take. here comes the second hour of "varney & company." ♪ charles: let's get a check on the big board. the dow is up. s&p up just fractionally. the 10 year well below that 2.6. drifting lower and lower. facebook. studying a motions. mankind shares are moving
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higher. stock up 12%. we have to head over to the supreme court. rich edson is there. rich: part-time home healthcare workers paid for the state do not have to join a union. that was a decision out of a case from illinois. companies do not have to provide their workers with control under the affordable care act. plenty of reactions. >> our religious freedom has not been vanquished. we still live in a country where people are free to live out their faith. both in churches and outside of churches. you cannot be forced into a government related full. this includes your family owned business. this is a critical win. >> this is a great day.
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a victory for anyone that believes in religious freedom. >> more than that, i am disturbed that five male supreme court justices would say discrimination against women is not really discrimination in this country. rich: we have had a week of high-profile decisions. this by far is the most crowded it has been. any time you talk about healthcare, any time you talk about contraception issues like that, it will be busy down here. charles: thanks a lot. we appreciate it. right now we have the author of "beading obamacare." can you tell us what is actually left of obamacare? >> the court ruled five mac-4.
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it is the most important thing about this decision. what is left of obamacare, one of the reasons this went five-four, there is nothing in this law that requires employers to provide contraception or the morning after pill. absolutely nothing. that is why kennedy, justice anthony kennedy, the swing vote, said, look, it is human services that are trying to force these families that are very religious, they are trying to force them to provide this morning after pill. there is nothing in this law that said that. charles: an indictment against obamacare? >> it certainly is the latter. the fact is if this decision has not occurred, the next
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president, the incoming president could have reversed this order anyway. it was over reaching right and executive branch department that put this mandate for contraception in place in the first place. let's be clear, this is not an access position. hobby lobby health insurance plans and all the others out there pay for a woman to go to the doctor and get a prescription. this was a $35 pill that they wanted to be free. religious freedom or a $35 pill. let's see. the united states supreme court decided that freedom was worth more than $35 i agree with them. businesses like hobby lobby,
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these families ran their businesses the way they run their lives. they try to apply biblical preferences. charles: maybe there is relief coming and other aspects. >> perhaps. what is really important is the united states supreme court is saying the law trust regulations. this administration is trying to use regulations imposed by the is decorative ranch trying to run people's lives. charles: we mentioned the role changes. where are we now with the idea that maybe this will ultimately implode on it self without any sort of outside action? >> we are moving towards the right direction. politicians all over the country are using this as their weapon
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for victory. people are realizing that they are losing their jobs. charles: i want to check in with nicole. there is an update on yahoo!. nicole: the stock right now is up 2%. yahoo!. piper jeffries raised it. yahoo! owns 20% of ali baba. they are going to be listing deals for the new york stock exchange. basically, piper jeffries is saying that the investment will be so beneficial that it may even cover up all of the challenges in the core business saying that ali baba made more.
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now, they also raise the price target to $43 up from $37. yahoo! investment may prove to be very beneficial. the ticker signal will be ba ba. charles: i do not know. i do not disagree with them, but i just think it is strange. what is the company doing other than this investment? let's talk about the price of gas. right now, the average for national gallon of gasoline is $3.67. joining us from chicago is larry leben. we sought and initial spike in oil and crude oil. we have not seen it at the pump. >> you have a little premium built in.
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last year we were looking at an issue in iraq. oil prices are rising. there is still room to go. $4.11. another 30-40s sent. i think we will probably get near that area. there is not enough time. other than that, i think the market will rally a little bit. we will see a little bit more affordable prices at the pump. charles: is there a point where they get to a certain level? we are driving more. we are buying cars. >> i think it is a relative thing, charles. we always see lots and lots of people driving on the road. certainly last winter, nobody could even get their car started it was so cold.
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as the warm weather starts to go away, if the prices don't stay up, it really was that strike. charles: it is a big week. july 4. what is the mood down there? >> for the most part, keep in mind, last day of the month, last day of the quarter, one day last week, a good thing that oil and gas are rallying. charles: have a great session. we will talk to you soon. members of congress pushing for a bill that would award anyone that recovered the missing e-mails from lois lerner. here is alex made george.
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i am surprised that number was not higher. like 100%. it feels so incredible. once we put something in an e-mail, it is therefore ever. how could this thing have disappeared? >> it certainly is possible. you can conduct technical scenarios. i just do not think that it is very plausible. the irs has said you are able to recover by looking at the e-mail inboxes within other peoples inboxes that she e-mailed. that is fine. they got a certain number of the e-mails back. wonderful. we are concerned about the e-mails that she said outside the irs to other agencies.
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i, you know, it strikes me that it is completely possible to retrieve these e-mails based on how e-mail works. when you say plausible, that gets me back to the theory of somewhere in south america a butterfly flap its wings and a year later there is a tornado in the midwest and we can connect the dots. >> i absolutely agree. i just do not think it is very likely. an example would be the hard drive crashed and therefore we lost e-mails. i totally get it. they say they performed forensics on it. okay. there are software forensics are not necessarily successful. fine. however, i do not believe that they do not have regular
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backups. it is completely counter intuitive. doing something weird with the set up. i think we would stand a pretty good chance of finding the e-mails. charles: thank you for helping us understand this more. president obama continues to work around congress. >> this keeps the system rigged. as long as they insist on doing it, i will keep taking actions on my own. ♪
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really... so our business can be on at&t's network for $175 dollars a month? yup. all five of you for $175. our clients need a lot of attention. there's unlimited talk and text. we're working deals all day. you get 10 gigabytes of data to share. what about expansion potential? add a line anytime for 15 bucks a month. low dues... great terms... let's close. introducing at&t mobile share value plans... ...with our best-ever pricing for business.
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the numbers are impressive.y to new york state. over 400,000 new private sector jobs... making new york state number two in the nation in new private sector job creation... with 10 regional development strategies to fit your business needs. and now it's even better because they've introduced startup new york... with the state creating dozens of tax-free zones where businesses pay no taxes for ten years. become the next business to discover the new new york. [ male announcer ] see if your business qualifies. charles: tech shares of go pro. it is going, going. stocks had a tremendous first three days of trading.
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$20.65. google is unchanged for the day. the daily bear reporting it will sell a robot to the general public later this year. this thing is pretty creepy. >> exactly. let's get right to it. this thing is hearing. it can climb up and 8-foot ladder. i am waiting for it to run the treadmill for me. do you want this walking around your local supermarket. charles: my son is 17. until he leaves the house, i do not need one.
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>> the giant walking around. charles: i talk about this a lot. one thing to romanticize. this is coming so fast. >> let's talk about why. the bp oil spill launch the drone movement. they use drones to look at the scope of this still. a meltdown in japan. they have realized that the robot did not help. that, again, launched a robotic movement already more than it was. charles: i don't think we can stop it at this point. the latest from iraq, they stormed through northern iraq. president obama admitting that the terrorists are "gaining strength in syria and iraq."
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how about president obama's foreign-policy? how well are they working for us? >> under president barack obama's watch, syria, iraq and the rest of the world is falling apart. remember, charles, from day one, this president refused to use the word on terror. there is no war on terror. basically trying to create a nation of islam to take on the rest of the world. when he signaled to the rest of the world, we have terrorist thugs that filled the void. charles: what do we do now? what would be the move now? iraq has to go to russia for fighter jets.
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the clock is ticking. >> it was a big mistake to remove all u.s. troops from iraq. he needs to engage with malachi on a high level. and syria, why is the president -- that has slaughtered many of his people. he is coming around that we have to aid the rebels. they were worried about arms getting into the wrong hands. where are we now? isis basically has taken control of many major cities in iraq and syria. it looks like we better get ready for another attack on america. he has got to get more engaged. the pentagon. tough talk.
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charles: i want to talk to you about the president coming out on his address. >> i think it was really funny. the president of the united states probably needs to reread the united states constitution. he used to be a law lecturer of. the president is whining and complaining because he is a long list president. he says, oh, they call me names and block my agenda. no, they want you to work with them. i think it is out of control. charles: there is this thing called compromise and negotiation. thank you, crystal. why is there a chinese amazon listing on the new york stock exchange? you must see this before you think about investing your money and aly baba. next.
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imagine what they can do for yours. make it matter. imagine what they can do for yours. when folks think about wthey think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america.
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charles: checking the big board. not moving. let's look at that s&p 500. all-time closing high.
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the next guest says careful. joining us is jordan chang. why are you so worried? >> its main competitor the chinese supreme court has declared it illegal. charles: he is a rockstar. the problem is it has all gone to his head. >> he says i want a part of that. he is changing the nature of the
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company. charles: it seems to me that they may have some sort of odd relationship. the app looks like it goes against everything the government is trying to prevent. >> they always do that. they have left it alone for a long time. they are starting to really start to censor it. that is what we saw with its competitor. basically, what you have, it is easier for them to monetize it. >> whether or not u.s. investors will be vulnerable to the way it is structured.
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it controls the licenses and other foreign assets. i am not sure how the chinese government is involved. >> investors are making the bat that the chinese government will not acquire it legal. >> it will be completely involved. you cannot have a big company in china that is free of congress party control. it is an exist or of the foreign structure. charles: we saw earlier, two, when they make these rulings, they do hate hit these guys in the kneecap. tremendous upside, though, for the internet for social media
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within china. >> how far can it go? that, i think, is the real problem. charles: thanks a lot. gordon chang. the answer is next. ♪ [bell rings] ♪ time and sales data.
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♪ >> i think that this raises a lot of troubling questions. you know what, it is only a hop, skip and a jump from there to facebook manipulating you in a number of ways. your thoughts on this. >> people are upset.
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>> it is upsetting. facebook has wide-open privacy policy that people sign up for it when they sign on to facebook. why didn't facebook rd no isn't it built on that? >> you are absolutely right about that from a business model point of view. i have never read their privacy policy. it sounds like it is so broad to interpret it that way. posting negative news items. they are saying they did not do it person by person.
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you know, that is what facebook is saying. >> i saw a twilight zone episode like that. they manipulated the electricity and everything. >> i missed that one. charles: let take a look at general motors again. liz, you have the details. >> ken feinberg is calling the shots here. no total dollar amount of six to the funds. it is a pretty broad range of people. even if there is alcohol use involved, you could still file a claim.
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>> there is a problem, though, with the idea that you are capped at $8 million. general motors would evoke the bankruptcy clause and say -- you can have back, but if you go outside of this agreement, it seems as if they will say we are protected by bankruptcy. >> that is right. if you take the money, you cannot sue us. this is what merck did similarly. >> they basically said, we will fight these case-by-case. >> it is a tough one. do not forget neil cavuto will have this tonight right here on the fox business channel. we have talked a lot about this.
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washington examiner reports that student loan debt increased $31 million this year. $1.1 trillion. starbucks ceo is launching with arizona state university to charge employees free online education. is that the right solution? naomi schaefer riley is with us. the private sector jumping in there. is it schultz versus obama in this case? >> they are coming out this from very to different positions. i think it is great that the private sector is getting involved here. one issue that certainly has come up is businesses are not happy with what college graduates look like these days.
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the vast majority of them say the majority of them are not even ready to do this work. charles: you have the federal government facilitating these loans. to a certain extent, do not worry about it. you will not have to pay all of this dark. tuition has outpaced inflation by a zillion miles. where in this equation can we stop this crazy thing. >> obviously, you have a situation. they are saying no matter what you charge, hey, guys, we will cover it. that is sending the wrong message. middle-class parents are the ones who are actually paying the
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tuition. charles: this is tough. the private sector there ultimately has to play a bigger wall. certainly, a private sector is someone at a bank that would look at the numbers and say we will not lend you the money. twenty grand. you can actually get a job upon graduation. i think we need the private sector are enabled to get in there. >> that will be great if you can do that. you cannot compete against the federal government. what good will it do? it will not help anyone. charles: we appreciate all the work you are doing on this. >> thank you. if you want to get a good read on the economy, do not look at the stock market. we have the real halftime report coming up.
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♪ we're moving our company to new york state. the numbers are impressive. over 400,000 new private sector jobs... making new york state number two in the nation in new private sector job creation... with 10 regional development strategies to fit your business needs. and now it's even better because they've introduced startup new york... with the state creating dozens of tax-free zones where businesses pay no taxes for ten years. become the next business to discover the new new york. [ male announcer ] see if your business qualifies. there was like an eruption on my skin. i had no idea i had shingles. red and puffy and itchy and burning. i'd lift my arm and the pain back here was excruciating.
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i couldn't lift my arms to drum or to dance. when i was drumming and moving my rib cage and my arms like this it hurt across here. when i went to the doctor and said what's happening to me his first question was "did you have chickenpox?" i didn't even really know what shingles was. i thought it was something that, you know, old people got. i didn't want to have clothes on. i didn't want to have clothes off. if someone asked me "let's go dancing" that would have been impossible. ♪ >> we have big news for people suffering from diabetes.
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a new inhaled insulin drug. the drug is made by the company mankind. it is estimated that nearly 26 million people. we will show you shares from mankind rallying. big news at the weekend box office. transformers ringing in $100 million in north america in the opening weekend. how to train your dragon 22 jump street, think like a man to and knowledge this event rounded up your top five. ♪
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when folks think about what they get from alaska, they think salmon and energy. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology.
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shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america. charles: that buzzer means it's time for the real halftime report. elizabeth macdonald is here with us. the market rally does not tell the real story. >> the market has not had the real story since central banks got involved.
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charles: a lot of people have missed this rally for a variety of reasons. gas prices are up $0.18 from this time last year. >> not as bad as the all-time high. the dollars $0.68 a gallon. it will probably top out at the dollars $0.75 a gallon. they have a fuel efficient fleet. charles: from gasoline to oil. >> things that interfere with the method of production.
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>> this is not a new thing. charles: you wonder what it would take. mankind. a huge winner today the 20 that is right. mankind moving to a new high. up 10% right now. it did get at the fda approval. it will move more rapidly than an inkjet double. this is a completely different option for patients with diabetes. there will be some heavily warning and labels. this is a big move. they get the big okay.
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charles: i encourage everyone. this guy is remarkable. look at his story. real strong numbers. it feels like the housing market is coming back. >> as much as this is the big game month over month, this is the eighth straight quarter where we have had declines. the stuff at the high-end is moving. apartment rents are rising. i think middle america is in a hard place right now. >> you are right about that. >> a true story of a woman who was basically arrested and seized by the same man that arrested joan of arc. it is now number one on amazon's ranking. i am very excited about this. i am really honored to have
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written this book. charles: you go, girl. i write, -- all right, guys, that is it for today's halftime report. what is going on? >> we like ip. it is a cash flow story. they are in a good position. we also, there was tremendous play on the recovering economy. believe it or not, 95% of everything that is shipped goes out in a cardboard box. what is holding ip back? is it stuff related to building and stuff like that? >> they have expanded inboxes. people think of them as just a paper company.
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their name does not help them in the digital age. charles: you guys also like network appliances. >> we like it as an overlooked storage play. they have gotten their act together in that market is just growing gangbusters. >> that market is absolutely phenomenal. why do you think that they have been overlooked? >> i think people have overrated the risk of cloud storage. charles: it feels like the newer names always get that fizzled. there are some cloud plays that are doing extremely well. >> it is part of their market. they are not out of that game. charles: thanks a lot. hot water over a world cup 20.
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lou: president obama will not help iraq. the syrian government is helping iraq. former u.s. ambassador to ambassador to iraq will be here to sort out the obama logic of alliances. tonight. 7:00 p.m. eastern. please join us. ♪ >> what was supposed to be a joke turned into a pr nightmare. look at the tweet that was sent out. it says, adios amigos. the picture shows a man and a sombrero heading to the departure gate. offenses? >> reaction is they think it was racist. the tweets are coming in fast and periods.
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charles: this is so nitpicky. we had a statue of liberty. we beat them two-one. >> it was done. how sensitive are we becoming? >> this is all politically correct nonsense. no pun intended. charles: you just wonder. that was from delta. i wonder if they knew it. the outrage will blow this thing up. he got his followers enraged and then ko when yanked the tweet.
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>> who did he play on the movie? he always makes him look great in his movies. he is always making these terrorist look like they are great people. anyway, it is interesting. we have gone about two hours and this is the first time we have talked about the world cup. >> he is on the road probably somewhere. what took you guys so long? >> it seems like 90 minutes of turnover to play to a type. charles: all right. your comments when we come back. ♪
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really... so our business can be on at&t's network for $175 dollars a month? yup. all five of you for $175. our clients need a lot of attention.
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there's unlimited talk and text. we're working deals all day. you get 10 gigabytes of data to share. what about expansion potential? add a line anytime for 15 bucks a month. low dues... great terms... let's close. introducing at&t mobile share value plans... ...with our best-ever pricing for business. ♪ ♪ ♪ ♪ create a better website at squarespace.com start your free trial today. >> i think it is great the
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private sector is getting involved here bes÷]ñ at one isse that has certainly come up as businesses are not happy with what college graduates look like these days. they don't have the skills necessary. the vast majority of business leaders say the people we are hiring are not even ready to be doing this work so i think it is great in that sense the private sector is getting involved in college education. charles: discussing the current college debt crisis. now here's what you had to say about it. john had this to say about the facebook altering your newsfeed for social experiment "i can't believe facebook keeps using a service they give to hundreds of millions of people for free and employing whatever they want with it." sounds like sarcasm to me. and about president obama "he is not going around congress, he is going around the american
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people." i was trying to get to it. you say you want the irs scandal. >> when will he work with the congress to get around that one? basely stifles the side from an election year. the question is will the irs and will the white house pony up and get the other agencies, the treasury department, the department of justice to fork over the e-mails of lois lerner or anybody else with those e-mails to turn them over from their end? charles: does not matter what side of the aisle you're on, this is like the dog ate my homework. nobody can believe this. >> set aside the crows conflict of the irs shutting down applicants who are anti-taxed, that is the thing.
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you have to wonder how will the voters react when this story like they will still be out there in the next election cycle. charles: we had a great show, thank you for watching. now we pass along the deirdre bolton. deirdre: thank you, charles. blackstone quietly getting ready to launch and mega fund sources say. it is basically the opposite of what the rest of the industry is doing. we will tell you why. and facebook playing with emotions. i look at the psychological experiment. if you were a child of the 80s or the 90s you may be a fan of "reading rainbow." the successful crowdfunding efforts to relaunch the program is a fox business exclusive. we will move up to blackstone, it already has a biggest piece of the puzzle if you like the hedge fund. now it is expanding. under the leadership

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